Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0573%/8h= −62.7% APRpaid last 24h −0.043%

Price spread now: Gate against Deribit−0.007%7-day average −0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$480.480% of the position

Long on Deribit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.056%−$6 on $10k

Price spread, last 3 days (all we have)+0.049%+$5 · spread now −0.007%, 7d avg −0.005%

Together, before fees−0.007%−$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.005%, so right now this pair is about funding alone: −$17 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.056% in total (about -5.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit MU_USDC-PERPETUAL	1,045.8	0.0573	pay 0.0072% / 1h	47m 52s	$62K	$256K	10x
Short	Gate MU_USDT	1,045.7	0	get 0.0000% / 8h	47m 52s	$63.0M	$28.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Deribit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee DeribitbpFee GatebpOrdersPrice spread, now −0.007%Rate

Funding earned: −$120.34
Price spread: −0.007% → −0.005%: −$0.12
Slippage, 4 orders: −$26
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$168.46
Costs to cover: 0.480%
Break-even: never at this rate

Slippage from Deribit: live order book, 31 min ago; Gate: live order book, 1 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Deribit live order book, 31 min ago	0.05 bp	14.4 bp −$14	17.2 bp −$172	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	1.20 bp	10.8 bp −$11	15.8 bp −$158	33.0 bp −$3,301	60.0 bp −$30.0K

MU on 37 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX MUUSDC	−0.0051%	4h	1,045.5	−0.026%	$1.3M	$673K	10x	as long as short
Gate MU_USDTshort	0.0000%	8h	1,045.7	−0.007%	$63.0M	$28.9M	75x
StandX MU-USD	0.0000%	1h	1,044.6	−0.115%	$189K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,048	+0.212%	$11K	$6.6M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,045.6	−0.012%	$124K	$446K	50x	as long as short
Lighter RH MU	+0.0032%	1h	1,045.6	−0.018%	$1.2M	$4.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,050.7	+0.474%	$14K	$302	12x	as long as short
Aftermath Perps MUUSD	+0.0036%	1h	1,044.8	−0.092%	$3K	$45K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,045.4	−0.030%	—	$194K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,045.5	−0.024%	$166K	$197K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps MU-USD.P	+0.0050%	1h	1,044.4	−0.129%	$2.0M	$2.7M	10x	as long as short
OKX MU-USDT-SWAP	+0.0078%	8h	1,045.8	0.000%	$30.8M	$105.1M	50x	as long as short
QFEX MU-USD	+0.0080%	1h	1,045.7	−0.004%	$7.9M	$23.9M	10x	as long as short
Pacifica MU	+0.0100%	1h	1,045.4	−0.036%	$153K	$182K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,045	−0.071%	$5.2M	$3.9M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,045.9	+0.012%	$71K	$266K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,045.9	+0.010%	$831	$799	20x	as long as short
Bitget MUUSDT	+0.0135%	8h	1,045.8	+0.006%	$20.5M	$43.6M	50x	as long as short
SoDEX MU-USD	+0.0135%	1h	1,045.7	−0.007%	$686K	$16K	10x	as long as short
Aevo MU-PERP	+0.0136%	1h	1,045.6	−0.013%	$33K	—	10x	as long as short
Paradex MU-USD-PERP	+0.0159%	8h	1,045.6	−0.013%	$2K	—	5x	as long as short
Aster MUUSD1	+0.0160%	8h	1,046.3	+0.054%	$21.6M	$47.3M	20x	as long as short
Variational Omni MU	+0.0189%	8h	1,045.5	−0.024%	$2.6M	$2.5M	—	as long as short
Binance MUUSDT	+0.0208%	8h	1,045.9	+0.018%	$124.9M	$533.0M	50x	as long as short
Lighter MU	+0.0208%	1h	1,045.7	−0.007%	$1.0M	$4.8M	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0224%	1h	1,045.6	−0.019%	$757K	$1.4M	10x	as long as short
GRVT MU_USDT_Perp	+0.0251%	8h	1,045.8	0.000%	$77K	$1.4M	10x	as long as short
Nado MU-PERP	+0.0270%	1h	1,044.9	−0.082%	$270K	$875K	10x	as long as short
Bullet MU-USD	+0.0271%	1h	1,045.7	−0.005%	$25K	$396K	10x	as long as short
Bybit MUUSDT	+0.0284%	8h	1,046	+0.027%	$19.2M	$32.6M	100x	as long as short
tradeXYZ xyz:MU	+0.0317%	1h	1,045.9	+0.014%	$176.8M	$105.6M	10x	as long as short
BloFin MU-USDT	+0.0326%	8h	1,045.7	−0.010%	$1.4M	$2.0M	20x	as long as short
Phoenix MU	+0.0460%	1h	1,045.4	−0.033%	$535K	$306K	15x	as long as short
Arcus MU-USD	+0.0462%	1h	1,045.3	−0.044%	$74K	$240K	10x	as long as short
RISEx MU/USDC	+0.0525%	1h	1,046.2	+0.043%	$316K	$339K	20x	as long as short
Deribit MU_USDC-PERPETUALlong	+0.0573%	1h	1,045.8	long leg	$62K	$256K	10x
Extended MU_24_5-USD	+0.0728%	1h	1,044.8	−0.091%	$540K	$1.1M	10x	as long as short